Do You Suspect a Spouse is Hiding Cryptocurrency?
Strategies for Divorce Attorneys from Forensic and Cryptocurrency Professionals
The rise of cryptocurrency and other digital assets is presenting new challenges for accounting and legal professionals. Individuals are adding more crypto assets to their portfolios, most of which are held in non-traditional digital accounts and electronic devices.
Forensic professionals are keeping a close eye on these developments and recently produced a webinar to discuss how to find crypto assets that may be hidden during marital disputes.
Here is a summary of suggested areas to explore if you suspect a spouse is hiding crypto assets. You can read the full article here for more details.
Cover crypto asset topics in interviews, depositions and discovery.
An interview with the target of your investigation can reveal important information to share during deposition.
Check loan applications and tax returns for possible disclosures.
Key items to look out for are the words “coin”, “crypto”, transfers to gambling sites, and unusual cash withdrawals.
Locate physical evidence of crypto accounts.
These can be handwritten or printed keys and passcodes, QR codes, and electronic hardware to store information.
Hire a forensic expert to analyze electronic devices.
A qualified forensic computer expert can uncover files containing keys to crypto accounts and search web browser history for activity on cryptocurrency and gambling websites.
Explore the conceptual evidence.
Consider other factors in the case including how much time a person may have been preparing to get divorced, a spouse’s expertise in computers, and their history transacting in cryptocurrency.
Cryptocurrency and digital assets continue to evolve and require a commitment to continuing professional education in this area. Fortunately, traditional forensic accounting techniques, including an analysis of costs, contracts, and receipts, are still applicable to identify evidence of crypto asset fraud.
I welcome your feedback and concerns on this topic, and remain available for a conversation if you would like to discuss this more in-depth.
From my home office to yours,
Reagan FVL was formed in 2015 as a forensic accounting, business valuation, and litigation support firm serving business communities in the Southeast United States. The firm’s managing member, Greg Reagan, is a seasoned testifying expert witness having rendered numerous opinions concerning business value, minority shareholder oppression, intangible asset values, commercial damages, and other areas.
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